Was talking with a friend about this and couldn’t come to a conclusion. Is it possible to have a chapter 11 bankruptcy done on a bank/financial institution? My understanding is that ch 11 would not have too many clauses applicable to a bank or investment bank and that covenants could help but does I cannot think of an example where this has helped or even occurred. Want to see other’s thoughts
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If I'm not mistaken, Lehman filed for chapter 11 back in '08.
It's absolutely possible and has happened
were you hiding under a rock in 08?
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